The pair stabilizes above 1.1440 but faces resistance at the 50-day EMA, with technical indicators signaling cautious bearish sentiment.
EUR/USD climbed to around 1.1440 during European trading on Monday, recovering after a prior session decline. The pair remains just above its nine-day Exponential Moving Average (EMA) but stays below the 50-day EMA, limiting near-term upside potential.
The 14-day Relative Strength Index (RSI) at 45 suggests weak momentum, as it lingers below the neutral 50 level. Technical analysis shows the pair trading slightly above a descending channel, though a break below the nine-day EMA at 1.1425 could trigger a retest of the 13-month low at 1.1322.
Resistance lies at the three-week high of 1.1472, with further hurdles at the 50-day EMA of 1.1521. A sustained break below 1.1322 may push the pair toward the channel’s lower boundary near 1.1060.